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Sep 30, 2024
LeMaitre Vascular Q3 2024 Earnings Report
Reported a strong third quarter with sales and profit growth.
Key Takeaways
LeMaitre Vascular reported a strong Q3 2024 with a 16% increase in sales, driven by growth in grafts, patches, and carotid shunts. The company's gross margin improved, and operating income increased significantly. Increased guidance now implies a 2024 op. margin of 24%, vs. 19% in 2023.
Sales increased by 16% compared to Q3 2023, with organic growth also at 16%.
Gross margin improved by 280 bps to 67.8%, driven by price increases and manufacturing efficiencies.
Operating income rose by 43% compared to Q3 2023.
Earnings per diluted share increased by 46% compared to Q3 2023.
Forward Guidance
LeMaitre Vascular provided sales guidance of $54.9mm - $56.9mm (Mid: $55.9mm, +14%, +14% Org.) for Q4 2024. The company expects a gross margin of 68.0% and operating income of $12.6mm - $14.0mm (Mid: $13.3mm, +30%).
Positive Outlook
- Sales $54.9mm - $56.9mm (Mid: $55.9mm, +14%, +14% Org.)
- Gross Margin 68.0%
- Op. Income $12.6mm - $14.0mm (Mid: $13.3mm, +30%)
- Op. Margin (Mid) 24%
- EPS $0.47 - $0.51 (Mid: $0.49, +30%)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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